South Korea’s summer travel boom drives record overseas spending
South Korea witnessed a surge in overseas travel and spending during the summer months. The number of outbound travellers climbed by 4.8% in the third quarter, reaching 7.09 million. This rise in trips abroad also pushed card spending to new heights. Koreans spent a record $5.93 billion on overseas credit card transactions between July and September, surpassing the previous high of $5.71 billion set in the same period last year. The increase came as more people travelled during the summer holidays. The third quarter marked a peak in both travel and spending for South Koreans abroad. With more people heading overseas, credit card transactions hit an all-time high. The trend reflects stronger demand for international trips during the summer season.
